I was an early SpaceX employee. My equity helped me pay off student loans, buy a home, and make risky career moves.

In a revealing conversation, Josh Giegel, co-founder of the AI startup Gambit, shares his inspiring journey from being an early employee at SpaceX to launching his own successful venture. At 41 years old and residing in Los Angeles, Giegel reflects on how his time at the pioneering space company transformed his life. While pursuing his master's degree at Stanford, Giegel found himself at a crossroads. Having previously interned at NASA, he received a suggestion from a colleague to explore opportunities at SpaceX, a relatively small space firm at the time. Intrigued, he applied and interviewed with Elon Musk just weeks before the company’s fourth Falcon 1 flight. Giegel recalls feeling an immediate connection to the mission and vision Musk articulated. Starting as a member of the propulsion analysis team at the age of 23, Giegel played a vital role in designing the first reusable rocket engine. His tenure at SpaceX lasted until he was 27, a period marked by rapid growth and innovation. Driven by a desire to eventually start his own company, he left SpaceX to pursue that dream, although he considered returning a few years later. Giegel's early experiences at SpaceX were not only formative professionally but also financially transformative. When offered an equity package, he remembers HR predicting that it could eventually amount to $250,000-$300,000, potentially covering a down payment on a home. Fast forward to today, Giegel has indeed benefited from that equity, which helped him pay off student loans and secure a house that would have been out of reach on a typical startup salary. In addition to homeownership, the financial windfall from his SpaceX equity has allowed Giegel and his family to enjoy more adventurous travels, balancing their responsibilities with the joys of exploration. His wife, contemplating a significant career shift, feels empowered to make that choice thanks to the financial cushion provided by his early career choices. Giegel also emphasizes the risky nature of his professional journey, especially given that a substantial portion of his net worth is tied to the space industry. Now, as the head of Gambit, a venture capital-backed AI company that has raised around $15 million, he reflects on the entrepreneurial ecosystem fostered by his former colleagues. Many of them have launched their own startups, creating a network that supports bold ventures with significant capital potential. Ultimately, Giegel’s story is a testament to the opportunities that arise from taking risks and believing in one’s vision—a narrative that continues to inspire others in the tech and startup communities.